Major players in the biomass electricity market are Enviva, Pinnacle Renewable Energy Group, Pacific BioEnergy Corporation, Acciona Sa, Dong Energy A/S, Acciona Sa, Ameresco Inc., E.On SE, Graanul Invest Group, RWE Innogy, Lignetics, Orsted A/S, Oulun Energia Oy, NTPC, Skive Fiernvarme, and Babcock & Wilcox Enterprises Inc.
The global biomass electricity market will grow from $41.44 billion in 2022 to $45.17 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The biomass electricity market is expected to grow to $61.32 billion in 2027 at a CAGR of 7.9%.
The biomass electricity market includes revernues earned by entities by wood and agricultural products, landfill gas and biogas, and alcohol fuels like Ethanol or Biodiesel.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Biomass electricity refers to the electricity generated by a process that involves the burning of biomass for the generation of product gas or syngas for the production of electricity.Producer gas is a combustible gas mixture of carbon monoxide, hydrogen, carbon dioxide, methane, and nitrogen.
The gasification process uses heat, pressure, and partial combustion, which takes place when the air supply (O2) is inadequate for the combustion of biomass.
Western Europe was the largest region in the biomass electricity market in 2022.Asia Pacific was the second-largest region in the biomass market.
The regions covered in the biomass electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of feedstock in biomass electricity are solid biomass, biogas, municipal solid waste, and liquid biomass.Solid biomass, also known as feedstock, consists of solid or compacted organic materials in the form of pellets that discharge stored energy through combustion and burning.
The different technologies include anaerobic digestion, combustion, co-firing, gasification, landfill gas, and others. They are used by various sectors such as households, industrial sectors, government sectors, and others.
The increasing government support through various government subsidies and policies is driving the growth of the biomass electricity market.Due to the growing concerns about climate change and the rising levels of greenhouse gases in the atmosphere resulting from the burning of fossil fuels such as coal and oil, new government policies are being framed to encourage sustainable power generation.
For instance, in India, the Ministry of new and renewable energy under its National Biogas and Manure Management Programme (NBMMP) provides subsidies for setting up family-type biogas plants mainly for rural and semi-urban households. The program is implemented by the State Nodal Departments/State Nodal Agencies and Khadi and Village Industries Commission (KVIC), Biogas Development and Training Centers (BDTCs) and involves subsidies of up to Rs. 17,000 ($230) for setting up biogas plants.
The growing competition from alternative energy sources such as solar, wind, and geothermal is expected to limit the biomass electricity market.Unlike wind power plants, biogas plants are affected by cold climates.
The digesters in a biogas plant require heat energy to maintain a constant biogas supply.The optimal temperature for bacteria to digest the waste product is around 37°C.
At temperatures below 37°C, the digesters require additional heat energy to maintain a constant biogas supply.Solar and wind energy plants use raw resources which are available in abundance, whereas biogas production is only possible in rural areas where raw materials such as agricultural waste, manure, green waste, or food waste are in constant supply.
Thus, the popularity and ease of maintaining alternative energy sources such as solar, wind, and geothermal restraints the growth of the biomass electricity market.
Companies in the biomass electricity market are developing new methods to produce electric power through new hybrid biogas plants by combining biogas with other forms of renewable energy sources such as solar energy.The combination of solar energy with biogas reduces the operating cost and effort required to deal with the waste products from the farms.
Following suit, in 2020, Green Genius, a renewable energy company, launched a new biogas power plant in Belarus.In addition to producing green electricity, new biogas power plants will also eliminate the smell from pig farms and transform organic waste into liquid odorless fertilizer.
Lithuania, Poland, Ukraine, Belarus, Spain, and Italy are the six European markets where Green Genius is creating sustainable energy (solar and biogas) projects.
In 2021, ReGenerate Energy Holdings, LLC, a US-based company focusing on environmental sustainability in renewable energy, acquired Albany Green Energy.Through the acquisition, ReGenerate Energy Holdings, LLC would continue building and expanding a bioenergy business.
Albany Green Energy is a US-based biomass heat-and-power facility that uses woody biomass from mill residue, forestry waste, recycling, and agricultural waste sources to provide 50 megawatts of electricity to Georgia Power.
The countries covered in the global biomass electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The biomass electricity market research report is one of a series of new reports that provides biomass electricity market statistics, including biomass electricity industry global market size, regional shares, competitors with a biomass electricity market share, detailed biomass electricity market segments, market trends and opportunities, and any further data you may need to thrive in the biomass electricity industry. This biomass electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.